12/5/2017 -
Pune, India - According to the report, "Silicone Adhesives Market by Type (One-Componant, Two-Componant), Technology (PSA, Non-PSA) End-Use Industry (Building and Construction, Transportation, Medical, Electrical and Electronics), and Region - Global Forecast to 2022," published by MarketsandMarkets, the market size is estimated at $2.18 billion in 2017, and is projected to reach $2.95 billion by 2022, at a CAGR of 6.24 percent between 2017 and 2022. Asia Pacific accounts for the major share of 50.3 percent, in terms of value, of the overall silicone adhesives market. The Asia Pacific silicone adhesives market is driven by the presence of a wide range of end-use industries, such as building and construction, transportation, medical, etc. High temperature resistance, excellent UV stability, durability and excellent gap filling capabilities of silicone adhesives are the major factors driving the silicone adhesives market. Silicone adhesives are used in various end-use industries, such as building and construction, transportation, medical, electrical and electronics, and others (industrial assembly, maintenance, consumer products). The medical industry is estimated to register the highest CAGR of 7.15 percent, between 2017 and 2022, in terms of value, followed by the electrical and electronics industry. In 2016, the building and construction end-use industry accounted for the largest market share, in terms of both volume and value. One-component silicone adhesives are of a variety of one part, no mix RTV silicones. These materials crosslink by reacting with the ambient moisture which is absorbed on the surface at a room temperature. These adhesives cure rapidly at room temperature, generally forming a skin within minutes while becoming tack-free within a few minutes to hours and getting fully cured within 24 hours. Being a one-component system, it becomes difficult to obtain a quick full cure adhesion from top to down as air has to be passed to get it cured. Asia Pacific is the largest silicone adhesives market, in terms of both value and volume, and is projected to be the fastest-growing silicone adhesives market during the forecast period. The high demand in Asia Pacific is the major driver of the silicone adhesives market. China is projected to be the largest silicone adhesives market in Asia Pacific, whereas India is projected to be the fastest-growing market. Other emerging economies such as Indonesia and Thailand are also projected to register a high growth in this market. Key companies profiled in this report are 3M Company (U.S.), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (U.S.), Henkel AG & Company (Germany), Avery Dennison Corporation (U.S.) and Dow Corning Corporation (U.S.).